And like I just posted, the adoption of BTC right now is most a small subsection of geeks and computer-literate who can read and understand what BTC is and how it works. To the average person it must seem completely hokey, to others who find about it later don't want to get into a market this volatile. What other demographics of people that have yet to hear about BTC are going to be willing to buy in to BTC at a $20 - $30 price range with the 'legal system' still out to lunch regarding what to do about these markets? That truly is the question we should be asking ourselves.

I'll keep my politics out of your economics if you keep your economics out of my politics.

Bitcoin is intentionally designed to be ungovernable and governance-free. luke-jr 2016Blocks must necessarily be full for the Bitcoin network to be able to pay for its own security. davout 2015Blocksize is an intentionally limited resource, like the 21e6 BTC limit. Changing it degrades the surrounding economics, creating negative incentives. Jeff Garzik 2013

Just thought I would add my view.The only real value of bitcoin at the moment is speculation. Everything always boils down to supply and demand. Eventually bitcoin will stabalise as the market starts to agree on the value of a bitcoin. Because it is early days, we will see massive jumps in price due to increase of market participents plus people holding onto their bitcoins selling when price looks tasty. Anyone that says there is no danger of bitcoin crashing and just going into the history books as a failed currency, should be carefull. I would however tend to agree that bitcoin is most likely here to stay, at least for the medium term. There would not even need to be an adoption of it as a currency/payment for it to sustain itself, since it has become a tradable asset.

Stick to your guns, we'll be laughing about how this price level got left in the dust a few weeks later.

My collective basis is way below par, and while I did get stopped out on that particular trade, it wasn't the end of the world. All part of the game. I knew what my risk parameters were and acted on them. I suggest anyone trading BTC to have a fully-formed plan to avoid potential pitfalls.

I got lucky, didn't have money to buy bitcoins for most of the bubble.. but then suddenly needed linden on secondlife, sold 3 bitcoins on virwox at the going rate of 10,000 at the time.. which equates to almost 40$ XD a half hour later the price of bitcoins crashed.